Richards Free Library
- Assets
- $3.0m
- Revenue
- $907.7k
- Investments
- $0.0
- Employees
- 20
- Location
- Newport, NH
- Founding
- 05/1951
- Data as of
- 12/2023
- EIN
- 02-0224075
Organization Overview
Richards Free Library is located in Newport, NH. The organization was established in 1951. As of 12/2023, Richards Free Library employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richards Free Library is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Richards Free Library generated $907.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $733.0k during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LIBRARY STRIVES TO ASSIST PEOPLE IN THEIR SEARCH FOR RELIABLE INFORMATION, SELF-EDUCATION, GREATER UNDERSTANDING, AND INTELLECTUAL ENJOYMENT BY PROVIDING A SPECTRUM OF MATERIALS, SERVICES AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY STRIVES TO ASSIST PEOPLE IN THEIR SEARCH FOR RELIABLE INFORMATION, SELF-EDUCATION, GREATER UNDERSTANDING, AND INTELLECTUAL ENJOYMENT BY PROVIDING A SPECTRUM OF MATERIALS, SERVICES AND PROGRAMS. THE LIBRARY ALSO PROVIDES SPACE FOR THE GATHERING OF PEOPLE AND IDEAS TO ENRICH THEMSELVES AND THE COMMUNITY. THE LIBRARY ARTS CENTER IS A REGIONAL CULTURAL AND ARTS CENTER, WHERE RESIDENTS AND VISITORS CAN OBSERVE, STUDY AND PARTICIPATE IN THE ARTS. IT HAS SERVED THE COMMUNITY SINCE 1967.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Boyle Chair | OfficerTrustee | 2 | $0 |
Vicki Bridge Board Member | Trustee | 1 | $0 |
Geunter Hubert Treasurer | OfficerTrustee | 2 | $0 |
Martha Lovely Co-Chair | OfficerTrustee | 2 | $0 |
Barbara Kvetcovsky Board Member | Trustee | 1 | $0 |
Tobin Menard Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,870 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $556,756 |
| All other contributions, gifts, grants, and similar amounts not included above | $138,134 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $713,760 |
| Total Program Service Revenue | $76,596 |
| Investment income | $83,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $31,379 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $907,654 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $360,349 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,619 |
| Payroll taxes | $27,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,606 |
| Advertising and promotion | $7,037 |
| Office expenses | $12,159 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,381 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,297 |
| Insurance | $8,188 |
| All other expenses | $12,937 |
| Total functional expenses | $732,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,588 |
| Savings and temporary cash investments | $335,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,438,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,108,889 |
| Total assets | $2,980,606 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,767,528 |
| Net assets with donor restrictions | $1,213,078 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,980,606 |